Coinbase Now Allows Its Customers to Easily Convert Between Different Crypto Assets

18. Dec 2018 Posted by Akolkar B on News

America’s largest cryptocurrency exchange by trading volumes - Coinbase - is rolling out some new features over the last few days. Since December 10, Coinbase started the “12 days of Coinbase” promotional campaign hinting towards the traditional Christmas song.

As part of its latest offering, Coinbase added the “convert” service for all its exchange as well as wallet users. This news service allows Coinbase customers to convert instantly among different crypto tokens like Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), 0x (ZRX) and Bitcoin Cash (BCH).

The official announcement from the company reads: “customers can convert between Bitcoin (BTC) and Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), 0x (ZRX), or Bitcoin Cash (BCH). Converting is available on Coinbase.com and in the iOS and Android apps. Conversions complete instantly and at a lower cost than if done via two separate transactions”.

The crypto exchange also mentioned that it will initially rollout its crypto-convert-service to its customers across all 34 countries wherein Coinbase offers native payment access. The exchange also says that while getting customer feedback, it will continue to improve its services and other features with time.

“Our product teams are thinking deeply about new ways to democratize the best of cryptocurrency, and the ability to easily convert one asset to another is an important step on this path” notes Coinbase.

Four days back on December 14, Coinbase introduced cash withdrawals to online payment system PayPal, absolutely free of cost. Coinbase will first roll-out this service to its U.S. customers and later to other locations globally.

The PayPal integration on the Coinbase platform took place some two year back in 2016, along with the support for credit cards. During that time, Coinbase users could deposit their fiats obtained by selling Bitcoin, directly to their PayPal account wallet. However, following the technical difficulties, Coinbase suspended the service earlier this year in February 2018.

Over the last year, Coinbase has introduced several new features on its platform, like merchant integration, custody solutions, campaigns for educational and charitable initiatives and much more.